Daily Market Wrap: May 10, 2012 Thursday, May 10, 4:57 PM ET
Stocks climbed back into positive territory after news of a better than expected jobs report that gave investors a sense of optimism.
The Labor Department is reporting a drop in weekly claims for unemployment last week, falling 1000 to a seasonally adjusted 367,000.
369,000 was the number economists were expecting.
Also on the economic front, the US trade deficit widened to $51.8 billion in March, which was more than expected, and also marked the fastest rate in 10 months.
Cisco Systems (NASDAQ:
CSCO) beat earnings expectations, but posted disappointing guidance, sending shares lower today.
Shares of Kohl's (NYSE:
KSS) are also trading lower today, after the retailer posted a steep drop in earnings, due to price cuts.
In M&A news, Coty upped its bid to acquire Avon Products (NYSE:
AVP) to about $10.7 billion. Coty said the offer will be withdrawn if Avon doesn't enter into discussions by Monday, May 14th.
Tomorrow, we'll take a look at the consumer sentiment report as well as earnings from Nvidia (NASDAQ:
For Marketnewsvideo.com, I'm Sayoko Murase.
Thursday Sector Laggards: Sporting Goods & Activities, Information Technology Services
Related symbols: ISCA, WBAI, ICLD, CTSH
Thursday Sector Leaders: Precious Metals, Oil & Gas Exploration & Production Stocks
Related symbols: SAND, BAA, MPO, PGN
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Related symbols: BTU, ANR, CRK, PGN
ACWI, AIRR: Big ETF Outflows
Related symbols: ACWI, AIRR, AAPL, MSFT, DY, AYI
VTI, CHAU: Big ETF Inflows
Related symbols: VTI, CHAU, ESND, ASHR, PEK
Thursday's ETF with Unusual Volume: DGRW
Related symbols: DGRW, CMCSA, AAPL, BIG, WU
Daily Dividend Report: SSS, PNC, RPM, WST, MW
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Daily Dividend Report: GIS, STZ, MKC, AFG, WSO
Related symbols: GIS, STZ, MKC, AFG, WSO
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Daily Market Wrap: May 10, 2012
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